Today’s Bitcoin Trend Analysis

Weekly: The trend remains healthy. Focus on fundamentals and the Fed’s rate cut progress. Keep an eye on the CPI data this day. If it falls below expectations, the probability of continued upward movement is high, signaling the start of a new weekly uptrend.

Daily: The 30-day moving average has been successfully broken, with increasing volume. Short-term technical trends suggest a consolidation within the previous range of 117-120K. The short-term moving averages (MA7 and 14) have turned upward, and the green bar on the MACD indicator is increasing. The fast and slow lines have formed a golden cross and are extending upward, signaling a clear rebound.

4-Hour Chart: Bollinger Bands are opening upward, forming a breakout. The overall upward trend is relatively healthy, with each retracement lowering higher. Considering the evening’s CPI data, we recommend buying on pullbacks.

Upside resistance: 116,000-117,000
Downside support: 112,500-111,500